PFG Advisors Purchases 161 Shares of BlackRock $BLK

PFG Advisors lifted its holdings in BlackRock (NYSE:BLK) by 43.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 532 shares of the asset manager’s stock after acquiring an additional 161 shares during the quarter. PFG Advisors’ holdings in BlackRock were worth $558,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Welch Group LLC grew its holdings in shares of BlackRock by 1.2% during the second quarter. Welch Group LLC now owns 760 shares of the asset manager’s stock worth $797,000 after purchasing an additional 9 shares during the last quarter. Stanley Laman Group Ltd. lifted its position in BlackRock by 2.7% during the 2nd quarter. Stanley Laman Group Ltd. now owns 340 shares of the asset manager’s stock worth $357,000 after buying an additional 9 shares in the last quarter. CNB Bank grew its holdings in BlackRock by 9.6% during the 2nd quarter. CNB Bank now owns 103 shares of the asset manager’s stock worth $108,000 after acquiring an additional 9 shares during the last quarter. Magellan Asset Management Ltd increased its position in BlackRock by 14.3% in the 2nd quarter. Magellan Asset Management Ltd now owns 72 shares of the asset manager’s stock valued at $76,000 after acquiring an additional 9 shares in the last quarter. Finally, McLean Asset Management Corp raised its stake in shares of BlackRock by 3.9% in the second quarter. McLean Asset Management Corp now owns 266 shares of the asset manager’s stock worth $285,000 after acquiring an additional 10 shares during the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BLK has been the topic of several research analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of BlackRock in a research note on Thursday, October 30th. Cowen reiterated a “buy” rating on shares of BlackRock in a research report on Wednesday, October 15th. Bank of America boosted their target price on BlackRock from $1,394.00 to $1,456.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Zacks Research cut BlackRock from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 14th. Finally, BNP Paribas Exane lifted their price objective on BlackRock from $1,160.00 to $1,265.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Seventeen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,303.41.

Insider Buying and Selling at BlackRock

In other news, Director Rachel Lord sold 12,000 shares of BlackRock stock in a transaction on Monday, October 20th. The shares were sold at an average price of $1,165.04, for a total transaction of $13,980,480.00. Following the transaction, the director directly owned 7,205 shares of the company’s stock, valued at $8,394,113.20. This trade represents a 62.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.98% of the stock is currently owned by corporate insiders.

BlackRock Trading Up 0.1%

NYSE:BLK opened at $1,083.98 on Wednesday. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 0.39. BlackRock has a 1-year low of $773.74 and a 1-year high of $1,219.94. The firm has a market capitalization of $167.86 billion, a price-to-earnings ratio of 27.87, a PEG ratio of 1.90 and a beta of 1.48. The business’s 50-day moving average price is $1,129.11 and its two-hundred day moving average price is $1,072.92.

BlackRock (NYSE:BLK) last announced its quarterly earnings results on Tuesday, October 14th. The asset manager reported $11.55 EPS for the quarter, missing analysts’ consensus estimates of $11.78 by ($0.23). BlackRock had a net margin of 26.64% and a return on equity of 15.36%. The company had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $6.22 billion. During the same period last year, the company earned $11.46 earnings per share. The business’s revenue was up 25.2% compared to the same quarter last year. On average, equities analysts expect that BlackRock will post 47.41 earnings per share for the current year.

BlackRock Company Profile

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.